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Lighthouse Financial Corp. is pleased to announce the completion of an $8,500,000 Credit Facility to a Georgia based manufacturer and distributor of Appalachian hardwood products, including a $7,000,000 Revolving Line of Credit and $1,500,000 Term Loan. Founded in 1952, the company has grown into a vertically integrated hardwood group consisting of drying yards, moulding facilities, distribution operations, and an in-house logistics division serving customers throughout the Southeast.
The company expanded operations after significant revenue growth during the COVID-19 pandemic. Post-Covid, demand dropped, and the company was unable to fully utilize capacity leading to losses. As part of its continued evolution, the company completed several strategic initiatives, including the consolidation of manufacturing operations and formation of a joint venture with a European partner to introduce an innovative hardwood product to the U.S. market. To support its ongoing operations, future growth projects, and working capital needs, the company sought a new financial partner. Lighthouse structured an aggressive line of credit secured by accounts receivable and inventory along with a term loan secured by machinery and equipment that provided meaningful liquidity to support the company’s next phase of development.
For more information about this transaction and others, please visit our website at www.lighthousefinancial.net.
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